Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 10 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
-
CISI – Managing Operational Risk in Financial Institutions – Joshua – Quiz 5
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Answered
- Review
-
Question 1 of 10
1. Question
From the under-listed options which risk is associated with doing business that carries opportunities for both gain and loss?
Correct
Business risk is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company’s ability to meet its target or achieve its financial goals is called business risk.
Incorrect
Business risk is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company’s ability to meet its target or achieve its financial goals is called business risk.
-
Question 2 of 10
2. Question
A risk response which involves reducing the adverse effect to a risk and/or the likelihood of its occurrence is called:
Correct
Mitigation is a systematic reduction in the extent of exposure to a risk and/or the likelihood of its occurrence. Also called risk reduction.
Incorrect
Mitigation is a systematic reduction in the extent of exposure to a risk and/or the likelihood of its occurrence. Also called risk reduction.
-
Question 3 of 10
3. Question
Who is responsible for risk identification, risk quantification, risk response development, risk response control?
Correct
It is the responsibility of the Project Risk Manager to oversee the risk identification, risk quantification, risk response development, risk response control
Incorrect
It is the responsibility of the Project Risk Manager to oversee the risk identification, risk quantification, risk response development, risk response control
-
Question 4 of 10
4. Question
The process of detecting hazards and assessing the associated risk is called
Correct
Risk assessment is the process of Identify hazards and risk factors that have the potential to cause harm (hazard identification).
Incorrect
Risk assessment is the process of Identify hazards and risk factors that have the potential to cause harm (hazard identification).
-
Question 5 of 10
5. Question
The process of finding, listing, and characterizing hazards is called
Correct
Hazard identification – the process of finding, listing, and characterizing hazards.
Incorrect
Hazard identification – the process of finding, listing, and characterizing hazards.
-
Question 6 of 10
6. Question
The process of comparing an estimated risk against given risk criteria to determine the significance of the risk is called
Correct
Risk evaluation – the process of comparing an estimated risk against given risk criteria to determine the significance of the risk.
Incorrect
Risk evaluation – the process of comparing an estimated risk against given risk criteria to determine the significance of the risk.
-
Question 7 of 10
7. Question
Risk assessments are very important as they form an integral part of an occupational health and safety management plan. What does risk assessment help to achieve (Select all that applies)
Correct
Risk assessments are very important as they form an integral part of an occupational health and safety management plan. They help to:
⦁ Create awareness of hazards and risk.
⦁ Identify who may be at risk (e.g., employees, cleaners, visitors, contractors, the public, etc.).
⦁ Determine whether a control program is required for a particular hazard.
⦁ Determine if existing control measures are adequate or if more should be done.
⦁ Prevent injuries or illnesses, especially when done at the design or planning stage.
⦁ Prioritize hazards and control measures.
⦁ Meet legal requirements where applicable.Incorrect
Risk assessments are very important as they form an integral part of an occupational health and safety management plan. They help to:
⦁ Create awareness of hazards and risk.
⦁ Identify who may be at risk (e.g., employees, cleaners, visitors, contractors, the public, etc.).
⦁ Determine whether a control program is required for a particular hazard.
⦁ Determine if existing control measures are adequate or if more should be done.
⦁ Prevent injuries or illnesses, especially when done at the design or planning stage.
⦁ Prioritize hazards and control measures.
⦁ Meet legal requirements where applicable. -
Question 8 of 10
8. Question
Assessments should be done by a competent person or team of individuals who have a good working knowledge of the situation being studied. As the newly employed risk manager, to conduct a risk assessment, what should you do? (Select all that applies)
Correct
Assessments should be done by a competent person or team of individuals who have a good working knowledge of the situation being studied. Include either on the team or as sources of information, the supervisors and workers who work with the process under review as these individuals are the most familiar with the operation. To conduct a risk assessment, what should you do?
⦁ Identify hazards.
⦁ Determine the likelihood of harm, such as an injury or illness occurring, and its severity.
⦁ Identify actions necessary to eliminate the hazard, or control the risk using the hierarchy of risk control methods.
⦁ Evaluate to confirm if the hazard has been eliminated or if the risk is appropriately controlled.
⦁ Monitor to make sure the control continues to be effective.
⦁ Keep any documents or records that may be necessary. Documentation may include detailing the process used to assess the risk, outlining any evaluations, or detailing how conclusions were made.Incorrect
Assessments should be done by a competent person or team of individuals who have a good working knowledge of the situation being studied. Include either on the team or as sources of information, the supervisors and workers who work with the process under review as these individuals are the most familiar with the operation. To conduct a risk assessment, what should you do?
⦁ Identify hazards.
⦁ Determine the likelihood of harm, such as an injury or illness occurring, and its severity.
⦁ Identify actions necessary to eliminate the hazard, or control the risk using the hierarchy of risk control methods.
⦁ Evaluate to confirm if the hazard has been eliminated or if the risk is appropriately controlled.
⦁ Monitor to make sure the control continues to be effective.
⦁ Keep any documents or records that may be necessary. Documentation may include detailing the process used to assess the risk, outlining any evaluations, or detailing how conclusions were made. -
Question 9 of 10
9. Question
In conducting an assessment, which of the following options should a risk manager take into consideration? (Select all that applies)
Correct
When doing an assessment, you need to take into account:
⦁ The methods and procedures used in the processing, use, handling or storage of the substance, etc.
⦁ The actual and the potential exposure of workers (e.g., how many workers may be exposed, what that exposure is/will be, and how often they will be exposed).
⦁ The measures and procedures necessary to control such exposure by means of engineering controls, work practices, and hygiene practices and facilities.
⦁ The duration and frequency of the task (how long and how often a task is done).
⦁ The location where the task is done.
⦁ The machinery, tools, materials, etc. that are used in the operation and how they are used (e.g., the physical state of a chemical, or lifting heavy loads for a distance).Incorrect
When doing an assessment, you need to take into account:
⦁ The methods and procedures used in the processing, use, handling or storage of the substance, etc.
⦁ The actual and the potential exposure of workers (e.g., how many workers may be exposed, what that exposure is/will be, and how often they will be exposed).
⦁ The measures and procedures necessary to control such exposure by means of engineering controls, work practices, and hygiene practices and facilities.
⦁ The duration and frequency of the task (how long and how often a task is done).
⦁ The location where the task is done.
⦁ The machinery, tools, materials, etc. that are used in the operation and how they are used (e.g., the physical state of a chemical, or lifting heavy loads for a distance). -
Question 10 of 10
10. Question
The goal of Hazard identification is to find and record possible hazards that may be present in your workplace. To be sure that all hazards are found, a risk manager do the following except
Correct
To be sure that all hazards are found:
⦁ Look at all aspects of the work.
⦁ Include non-routine activities such as maintenance, repair, or cleaning.
⦁ Look at accident / incident / near-miss records.
⦁ Include people who work off site either at home, on other job sites, drivers, teleworkers, with clients, etc.
⦁ Look at the way the work is organized or done (include experience of people doing the work, systems being used, etc).Incorrect
To be sure that all hazards are found:
⦁ Look at all aspects of the work.
⦁ Include non-routine activities such as maintenance, repair, or cleaning.
⦁ Look at accident / incident / near-miss records.
⦁ Include people who work off site either at home, on other job sites, drivers, teleworkers, with clients, etc.
⦁ Look at the way the work is organized or done (include experience of people doing the work, systems being used, etc).